WEBVTT - Tech News: Internet Down

0:00:04.400 --> 0:00:07.800
<v Speaker 1>Welcome to tech Stuff, a production from I Heart Radio.

0:00:12.039 --> 0:00:15.160
<v Speaker 1>Hey there, and welcome to tech Stuff. I'm your host,

0:00:15.320 --> 0:00:18.640
<v Speaker 1>Jonathan Strickland. I'm an executive producer with I Heart Radio

0:00:18.760 --> 0:00:21.360
<v Speaker 1>and I love all things tech. First of all, of

0:00:21.440 --> 0:00:25.840
<v Speaker 1>this episode sounds at all different. It's Tori's fault. I'm

0:00:25.880 --> 0:00:30.320
<v Speaker 1>in the studio today, but I'm using my normal microphone

0:00:30.360 --> 0:00:33.120
<v Speaker 1>for home recording. But it may mean that it sounds

0:00:33.120 --> 0:00:35.080
<v Speaker 1>a little different. Tarry, by the way, is also here.

0:00:35.680 --> 0:00:38.640
<v Speaker 1>She's um She's waving and blowing kisses to all of

0:00:38.680 --> 0:00:42.040
<v Speaker 1>you because she loves you so much. That might not

0:00:42.080 --> 0:00:45.440
<v Speaker 1>be true, but there are definitely some hand gestures. Anyway,

0:00:45.560 --> 0:00:49.720
<v Speaker 1>let's get to the tech news for Thursday, July twenty two,

0:00:50.159 --> 0:00:54.960
<v Speaker 1>two thousand, twenty one. Earlier today, you might have had

0:00:55.000 --> 0:00:59.960
<v Speaker 1>some problems using certain websites or web based services. For example,

0:01:00.440 --> 0:01:04.200
<v Speaker 1>Delta Airlines customers found they couldn't use online check in

0:01:04.400 --> 0:01:07.959
<v Speaker 1>for a while. Amazon customers were having trouble connecting to

0:01:08.040 --> 0:01:12.920
<v Speaker 1>that site. Gamers saw the PlayStation network and Steam were

0:01:13.000 --> 0:01:17.720
<v Speaker 1>down as well. So what the heck happened? Well, it

0:01:17.760 --> 0:01:22.000
<v Speaker 1>appears that fault lies with part of acamize system. Now

0:01:22.000 --> 0:01:24.600
<v Speaker 1>acam I is a c d N. Also, I could

0:01:24.600 --> 0:01:28.319
<v Speaker 1>be mispronouncing it. It's a K A m AI, but

0:01:28.400 --> 0:01:31.800
<v Speaker 1>it's a c d N that's a content delivery network.

0:01:32.200 --> 0:01:35.920
<v Speaker 1>So as that name implies a com I is in

0:01:35.959 --> 0:01:40.520
<v Speaker 1>the business of facilitating the movement of data across networks

0:01:40.600 --> 0:01:44.280
<v Speaker 1>to customers. C d n's address an issue that we

0:01:44.440 --> 0:01:47.039
<v Speaker 1>just can't otherwise get around, and that's the fact that

0:01:47.800 --> 0:01:51.880
<v Speaker 1>the further you are away from a computer like a server.

0:01:52.200 --> 0:01:55.280
<v Speaker 1>Let's say that you're trying to connect to a specific website. Well,

0:01:55.320 --> 0:01:59.240
<v Speaker 1>the further away you are from that that server, the

0:01:59.320 --> 0:02:01.960
<v Speaker 1>longer it's going to take for signals to pass between

0:02:02.000 --> 0:02:05.640
<v Speaker 1>you and that server. And if the service you're trying

0:02:05.640 --> 0:02:09.040
<v Speaker 1>to access is one that requires fast response, like maybe

0:02:09.040 --> 0:02:11.800
<v Speaker 1>it's a streaming video game or something, that could be

0:02:11.800 --> 0:02:16.079
<v Speaker 1>a problem. So if you want to access a specific

0:02:16.080 --> 0:02:19.200
<v Speaker 1>companies services and that company happens to be located in

0:02:19.720 --> 0:02:23.000
<v Speaker 1>Washington State, but you live in the state of Florida,

0:02:23.320 --> 0:02:25.600
<v Speaker 1>which is all the way on the opposite side of

0:02:25.880 --> 0:02:30.680
<v Speaker 1>you know, America, then you might have some delays. If

0:02:30.680 --> 0:02:33.200
<v Speaker 1>your computer and the company's servers had to communicate across

0:02:33.240 --> 0:02:36.640
<v Speaker 1>the entire country, you'd run into lag and that's where

0:02:36.680 --> 0:02:41.160
<v Speaker 1>c d ends come in. They are essentially huge server

0:02:41.360 --> 0:02:45.960
<v Speaker 1>farms located in specific geographic areas, and they function as

0:02:46.000 --> 0:02:48.960
<v Speaker 1>a faster way to deliver Internet content. They're kind of

0:02:49.000 --> 0:02:55.000
<v Speaker 1>like um mirrors of existing content. So instead of having

0:02:55.000 --> 0:02:59.000
<v Speaker 1>to transmit you know, that episode of Modern Love across

0:02:59.120 --> 0:03:03.800
<v Speaker 1>the entire United States, a c d N with the

0:03:03.960 --> 0:03:07.480
<v Speaker 1>Modern Love content can step in closer to home. C

0:03:07.680 --> 0:03:10.359
<v Speaker 1>d n s can also provide other services. They can

0:03:10.400 --> 0:03:14.240
<v Speaker 1>act as a layer of protection against malicious attacks from hackers,

0:03:14.639 --> 0:03:19.240
<v Speaker 1>liked DOS attacks, distributed denial of service attacks, and most

0:03:19.240 --> 0:03:22.760
<v Speaker 1>of the time everything's just working fine and people are

0:03:22.800 --> 0:03:27.040
<v Speaker 1>able to access services like Netflix or PlayStation games or

0:03:27.080 --> 0:03:31.640
<v Speaker 1>whatever without a problem. But sometimes stuff goes wrong, and

0:03:31.720 --> 0:03:36.400
<v Speaker 1>that's what happened today. Akama says that it was an

0:03:36.400 --> 0:03:41.040
<v Speaker 1>emerging issue with its Edge DNS service, but as I'm

0:03:41.080 --> 0:03:45.080
<v Speaker 1>recording this, it appears that the company's engineers have resolved

0:03:45.280 --> 0:03:48.320
<v Speaker 1>the problem. It's just a reminder that there's always a

0:03:48.360 --> 0:03:52.120
<v Speaker 1>point of failure in a given system, and sometimes that

0:03:52.280 --> 0:03:54.839
<v Speaker 1>point of failure can be one that affects a lot

0:03:54.880 --> 0:03:58.119
<v Speaker 1>of other systems. However, I have to take my hat

0:03:58.160 --> 0:04:01.320
<v Speaker 1>off to those engineers who fix the problem relatively quickly.

0:04:01.880 --> 0:04:05.280
<v Speaker 1>That's really impressive. You know, it really stinks when these

0:04:05.280 --> 0:04:09.480
<v Speaker 1>things happen, but it's it's incredible to see how quickly

0:04:09.520 --> 0:04:12.840
<v Speaker 1>people can respond and get things back on track, because

0:04:13.480 --> 0:04:17.120
<v Speaker 1>I mean, that's a big issue. Now. In an early episode,

0:04:17.640 --> 0:04:21.039
<v Speaker 1>I mentioned that President Biden here in the United States

0:04:21.160 --> 0:04:25.279
<v Speaker 1>issued an executive order that urged the Federal Trade Commission,

0:04:25.360 --> 0:04:28.040
<v Speaker 1>or FTC, to look into the issue of the right

0:04:28.120 --> 0:04:31.720
<v Speaker 1>to repair. Just in case you're not familiar with that term,

0:04:31.760 --> 0:04:34.720
<v Speaker 1>that refers to stripping away the layers that companies will

0:04:34.760 --> 0:04:39.200
<v Speaker 1>put in place that can discourage or outright prevent users

0:04:39.600 --> 0:04:43.320
<v Speaker 1>from making their own repairs or going to an independent

0:04:43.400 --> 0:04:47.800
<v Speaker 1>repair service, and instead they might put in layers that

0:04:47.920 --> 0:04:52.400
<v Speaker 1>force those users to go to a corporate approved service company.

0:04:52.800 --> 0:04:57.000
<v Speaker 1>And this can apply to everything from basic consumer electronics

0:04:57.320 --> 0:05:00.720
<v Speaker 1>all the way up to things like giant tractors for agriculture.

0:05:01.120 --> 0:05:03.000
<v Speaker 1>And this is a really big deal for people who

0:05:03.080 --> 0:05:06.080
<v Speaker 1>either don't want to be tied down to a specific

0:05:06.120 --> 0:05:10.000
<v Speaker 1>ecosystem or those who might not have easy access to

0:05:10.120 --> 0:05:15.000
<v Speaker 1>corporate approved services or both. The FTC now says that

0:05:15.080 --> 0:05:19.520
<v Speaker 1>the organization will step up law enforcement actions against companies

0:05:19.560 --> 0:05:23.880
<v Speaker 1>that are engaged in quote illegal repair restrictions end quote.

0:05:23.880 --> 0:05:27.920
<v Speaker 1>According to the site x d A. Now what constitutes

0:05:28.040 --> 0:05:31.560
<v Speaker 1>illegal repair restrictions, Well, if it's part of an anti

0:05:31.560 --> 0:05:35.800
<v Speaker 1>competitive strategy, it could violate the Sherman Act that deals

0:05:35.800 --> 0:05:39.680
<v Speaker 1>with the issues of monopolies and anti competitiveness. And there

0:05:39.680 --> 0:05:42.200
<v Speaker 1>are other laws that can play a role as well,

0:05:42.240 --> 0:05:44.600
<v Speaker 1>And I may have to do a full episode about

0:05:44.680 --> 0:05:48.160
<v Speaker 1>that at some point, because frankly, I am not that

0:05:48.279 --> 0:05:51.200
<v Speaker 1>well read up on these laws, because let's get real,

0:05:51.600 --> 0:05:56.880
<v Speaker 1>until really recently, no one was looking into enforcing those laws,

0:05:56.920 --> 0:05:59.560
<v Speaker 1>so they weren't really playing a part. But I think

0:05:59.600 --> 0:06:03.080
<v Speaker 1>that this is really encouraging. As the FDC points out,

0:06:03.600 --> 0:06:06.720
<v Speaker 1>the denial of the right to repair leads to a

0:06:06.760 --> 0:06:10.920
<v Speaker 1>lot of wastefulness, uh, And that can go from anything

0:06:11.000 --> 0:06:13.039
<v Speaker 1>from the amount of time it takes for you to

0:06:13.080 --> 0:06:19.320
<v Speaker 1>actually go to a company approved maintenance area to just

0:06:19.400 --> 0:06:21.560
<v Speaker 1>throwing something away and buying a new one because you

0:06:21.600 --> 0:06:25.039
<v Speaker 1>can't be bothered to take it to get repaired. None

0:06:25.040 --> 0:06:27.240
<v Speaker 1>of those are really good things, So I think this

0:06:27.320 --> 0:06:30.920
<v Speaker 1>might be a good move in general. In a different

0:06:31.040 --> 0:06:34.920
<v Speaker 1>earlier episode, I talked a bit about the backlash against

0:06:35.000 --> 0:06:39.680
<v Speaker 1>audacity that's the free to download audio recording and editing

0:06:39.720 --> 0:06:44.280
<v Speaker 1>software that folks like yours truly use when recording podcasts

0:06:44.320 --> 0:06:48.279
<v Speaker 1>from home. It's what I'm actually using right now instead

0:06:48.360 --> 0:06:52.240
<v Speaker 1>of using our studios recording system because Tari won't let

0:06:52.240 --> 0:06:58.040
<v Speaker 1>me do that anyway. Uh oh, look she's blowing more kisses.

0:06:58.480 --> 0:07:01.720
<v Speaker 1>She's just so loving to a all right, anyway. A

0:07:01.720 --> 0:07:04.600
<v Speaker 1>while back, there was this company called Muse or the

0:07:04.680 --> 0:07:08.760
<v Speaker 1>Muse Group now that acquired Audacity and then released a

0:07:08.880 --> 0:07:12.200
<v Speaker 1>version with some new privacy policies that raised a lot

0:07:12.240 --> 0:07:18.440
<v Speaker 1>of eyebrows because those policies included data collection, uh policies

0:07:18.720 --> 0:07:23.680
<v Speaker 1>and meaning data collected from users, and we're talking about

0:07:23.720 --> 0:07:26.880
<v Speaker 1>a lot of data that could potentially be used with

0:07:26.960 --> 0:07:30.600
<v Speaker 1>conjunction with with law enforcement. So it raised a lot

0:07:30.600 --> 0:07:34.080
<v Speaker 1>of big questions about privacy and legality, and it led

0:07:34.120 --> 0:07:38.200
<v Speaker 1>to a backlash in which some Audacity users were proposing

0:07:38.800 --> 0:07:41.840
<v Speaker 1>that they develop a forked version of Audacity, to go

0:07:41.880 --> 0:07:45.080
<v Speaker 1>back to an earlier version of Audacity and develop for

0:07:45.160 --> 0:07:48.720
<v Speaker 1>that as an independent program in order to avoid the

0:07:48.760 --> 0:07:51.800
<v Speaker 1>issues that they were seeing based on this updated privacy

0:07:51.840 --> 0:07:55.400
<v Speaker 1>policy from the quote unquote real Audacity. That is not

0:07:55.520 --> 0:07:58.240
<v Speaker 1>a great thing for the new owners to hear. I mean,

0:07:58.280 --> 0:08:00.280
<v Speaker 1>if customers are saying they're gonna go and make their

0:08:00.360 --> 0:08:03.800
<v Speaker 1>own version of your product just to avoid your policies,

0:08:04.600 --> 0:08:09.880
<v Speaker 1>that's tough. Now Audacity has a new new privacy policy

0:08:09.960 --> 0:08:12.840
<v Speaker 1>and it removes the sections that were causing the concern.

0:08:13.160 --> 0:08:16.280
<v Speaker 1>So in a message to users, Audacity said the following

0:08:16.400 --> 0:08:21.400
<v Speaker 1>quote phrasing has been adjusted to remove ambiguity or aid

0:08:21.440 --> 0:08:25.360
<v Speaker 1>in transparency, in particular that we do not collect any

0:08:25.400 --> 0:08:29.240
<v Speaker 1>additional information for law enforcement or any other purpose. We

0:08:29.320 --> 0:08:32.920
<v Speaker 1>have explained the purpose of the two networking features, error

0:08:32.920 --> 0:08:36.640
<v Speaker 1>reporting and update checking. We have removed the provision that

0:08:36.679 --> 0:08:40.520
<v Speaker 1>discourages children under thirteen years old from using Audacity. We

0:08:40.600 --> 0:08:43.480
<v Speaker 1>have taken steps to ensure that we never store a

0:08:43.559 --> 0:08:48.520
<v Speaker 1>full IP address we now truncated before hashing or discarded entirely,

0:08:48.960 --> 0:08:51.920
<v Speaker 1>and have reflected this change in the privacy policy document.

0:08:52.440 --> 0:08:55.280
<v Speaker 1>We have made some changes to how we process error

0:08:55.280 --> 0:09:00.840
<v Speaker 1>reports to ensure that we never store any potentially identifiable information. Further,

0:09:01.240 --> 0:09:04.600
<v Speaker 1>they explained that any version of Audacity from three point

0:09:04.800 --> 0:09:09.760
<v Speaker 1>zero point two or earlier has no networking capability at all,

0:09:10.040 --> 0:09:12.320
<v Speaker 1>meaning there's no way for the company to collect any

0:09:12.400 --> 0:09:15.920
<v Speaker 1>data from people who are using those versions of audacity.

0:09:16.720 --> 0:09:19.080
<v Speaker 1>Whether all this is going to be enough to calm

0:09:19.120 --> 0:09:22.320
<v Speaker 1>the critics remains to be seen, but it feels like

0:09:22.440 --> 0:09:25.760
<v Speaker 1>it's at least the right thing to do. We've got

0:09:25.800 --> 0:09:28.080
<v Speaker 1>some more news to report on, but before I get

0:09:28.080 --> 0:09:39.680
<v Speaker 1>to that, let's take a quick break. We're back. The

0:09:39.800 --> 0:09:44.160
<v Speaker 1>state of California has filed a lawsuit against the video

0:09:44.240 --> 0:09:48.800
<v Speaker 1>game developer and publisher Activision Blizzard, alleging that the company

0:09:48.840 --> 0:09:51.920
<v Speaker 1>has a culture of harassment that makes the company a

0:09:52.000 --> 0:09:56.240
<v Speaker 1>hostile work environment, particularly for women. In fact, the lawsuit

0:09:56.280 --> 0:10:00.440
<v Speaker 1>alleges that there is a quote pervasive frat boy end

0:10:00.559 --> 0:10:05.920
<v Speaker 1>quote culture there, and y'all, that phrasing definitely conjures up

0:10:05.960 --> 0:10:09.520
<v Speaker 1>some negative images in my mind. But then you have

0:10:09.559 --> 0:10:12.280
<v Speaker 1>to understand I went to college at the University of

0:10:12.280 --> 0:10:15.880
<v Speaker 1>Georgia in the mid to late nineties, and the frats

0:10:15.960 --> 0:10:21.680
<v Speaker 1>there were literally the worst. Like they made the news,

0:10:21.720 --> 0:10:25.400
<v Speaker 1>that's how bad they were. Anyway, The allegations include lots

0:10:25.440 --> 0:10:30.240
<v Speaker 1>of really despicable charges, everything from women being groped and

0:10:30.360 --> 0:10:34.480
<v Speaker 1>otherwise assaulted, to women receiving far less pay for doing

0:10:34.520 --> 0:10:38.480
<v Speaker 1>the same jobs as men, to one case where apparently

0:10:38.840 --> 0:10:42.960
<v Speaker 1>an executive reportedly delegated his work to a female direct

0:10:43.000 --> 0:10:48.199
<v Speaker 1>report so that he could play call of duty. Gross.

0:10:48.760 --> 0:10:52.840
<v Speaker 1>Now I should add that the company says these charges

0:10:52.880 --> 0:10:57.120
<v Speaker 1>are actually relating to the past, and that the Activision

0:10:57.120 --> 0:11:00.319
<v Speaker 1>Blizzard company of today does not reflect this image. In

0:11:00.360 --> 0:11:02.480
<v Speaker 1>other words, they're saying, yeah, things used to be bad,

0:11:02.880 --> 0:11:05.400
<v Speaker 1>but we have taken great strides to fix them, and

0:11:05.440 --> 0:11:08.760
<v Speaker 1>we take this seriously. In fact, the company representatives have

0:11:08.800 --> 0:11:13.280
<v Speaker 1>said that every charge is taken seriously and the company

0:11:13.320 --> 0:11:17.200
<v Speaker 1>has made substantive moves to really change corporate culture. Now,

0:11:17.240 --> 0:11:20.679
<v Speaker 1>I am sure that a more complete story will come

0:11:20.679 --> 0:11:24.560
<v Speaker 1>out in court, assuming that this actually goes that far,

0:11:25.000 --> 0:11:28.800
<v Speaker 1>and maybe we will hear whether or not the representatives

0:11:28.800 --> 0:11:33.640
<v Speaker 1>are accurate right whether or not this this toxic culture

0:11:33.800 --> 0:11:38.560
<v Speaker 1>still exists. It appears to at least have existed. But

0:11:39.080 --> 0:11:42.320
<v Speaker 1>the question is is that how things are now. I

0:11:42.360 --> 0:11:45.280
<v Speaker 1>honestly don't know what to believe. I don't know anyone

0:11:45.480 --> 0:11:48.960
<v Speaker 1>at that company, so I have no idea if it

0:11:49.000 --> 0:11:52.760
<v Speaker 1>has changed significantly or if it's still a hostile work environment.

0:11:53.000 --> 0:11:55.559
<v Speaker 1>But I will keep an eye on this story as

0:11:55.559 --> 0:11:59.480
<v Speaker 1>it develops. One technology that tends to come up and

0:11:59.520 --> 0:12:03.360
<v Speaker 1>conversation about the future is weather control. I mean, I

0:12:03.400 --> 0:12:06.680
<v Speaker 1>know that Cobra Commander was really obsessed with it. But

0:12:06.840 --> 0:12:09.240
<v Speaker 1>when we get to the realities of tech and the weather,

0:12:09.600 --> 0:12:12.880
<v Speaker 1>our understanding of how we can affect whether it gets

0:12:12.880 --> 0:12:16.880
<v Speaker 1>a little bit wibbly wobbly. For years, people have attempted

0:12:16.920 --> 0:12:20.640
<v Speaker 1>to seed clouds to induce rain over drought, and the

0:12:20.720 --> 0:12:25.280
<v Speaker 1>question then pops up does that actually work? Which is

0:12:25.280 --> 0:12:27.520
<v Speaker 1>actually kind of hard to say because it's difficult to

0:12:27.600 --> 0:12:31.240
<v Speaker 1>test these things because it either rains or it doesn't

0:12:31.400 --> 0:12:34.720
<v Speaker 1>rain after you seed the clouds. And if it does rain,

0:12:35.559 --> 0:12:37.680
<v Speaker 1>then can you be sure that it would not have

0:12:37.840 --> 0:12:41.040
<v Speaker 1>rained if you hadn't seeded the clouds? Like was the

0:12:41.040 --> 0:12:43.480
<v Speaker 1>cloud seeding the thing that actually made it rain or

0:12:43.520 --> 0:12:46.760
<v Speaker 1>was it going to rain anyway? Now, long term studies

0:12:47.080 --> 0:12:50.960
<v Speaker 1>suggest that cloud seating is effective, like there there have

0:12:51.000 --> 0:12:54.800
<v Speaker 1>been studies of snow packs over the course of several

0:12:54.920 --> 0:12:59.520
<v Speaker 1>years that suggests that there is greater precipitation in years

0:12:59.559 --> 0:13:03.280
<v Speaker 1>when cloud seeding was actually performed. But it's just, you know,

0:13:03.320 --> 0:13:05.480
<v Speaker 1>it's one of those things it's very hard to see.

0:13:05.880 --> 0:13:09.600
<v Speaker 1>In the short term. However, the United Arab Emirates is

0:13:09.720 --> 0:13:14.360
<v Speaker 1>using a slightly different approach to the typical cloud seeding approach.

0:13:14.679 --> 0:13:17.440
<v Speaker 1>The U A E is going to zap clouds with

0:13:17.480 --> 0:13:20.800
<v Speaker 1>electricity to see if that makes it rain. So they're

0:13:20.840 --> 0:13:23.800
<v Speaker 1>gonna be using drones to do this, and the idea

0:13:24.160 --> 0:13:27.360
<v Speaker 1>is to actually create an electric charge on droplets of

0:13:27.360 --> 0:13:31.160
<v Speaker 1>water that encourages the droplets to bind together. And as

0:13:31.200 --> 0:13:35.160
<v Speaker 1>these droplets bind together, they're gonna they're gonna grow larger,

0:13:35.200 --> 0:13:39.439
<v Speaker 1>They're gonna grow heavier and potentially heavy enough to fall

0:13:39.520 --> 0:13:43.320
<v Speaker 1>his rain. Assuming this all works, which actually sounds pretty

0:13:43.360 --> 0:13:46.319
<v Speaker 1>plausible to me at least, so I'll be very eager

0:13:46.360 --> 0:13:49.000
<v Speaker 1>to see how this turns out. Though I should say

0:13:49.080 --> 0:13:52.760
<v Speaker 1>I am a bit disappointed because I originally imagined that

0:13:52.840 --> 0:13:55.960
<v Speaker 1>these drones were gonna fly up there and threatened clouds

0:13:55.960 --> 0:13:58.560
<v Speaker 1>with electric shocks unless they would go ahead and rain

0:13:59.320 --> 0:14:02.040
<v Speaker 1>and to ns out, that's not how that works, so

0:14:02.960 --> 0:14:07.439
<v Speaker 1>that's a bummer. Finally, if you've listened to tech stuff

0:14:07.440 --> 0:14:10.360
<v Speaker 1>for a while, you have certainly heard me talk about

0:14:10.360 --> 0:14:14.440
<v Speaker 1>an electric vehicle company called Faraday Future, and not for

0:14:14.720 --> 0:14:19.200
<v Speaker 1>necessarily positive reasons. I first learned about this company when

0:14:19.240 --> 0:14:22.320
<v Speaker 1>I saw a concept model of an electric sports car

0:14:22.880 --> 0:14:26.440
<v Speaker 1>at C E s way back in t and that

0:14:26.520 --> 0:14:30.120
<v Speaker 1>concept looked super cool. It was one of those like,

0:14:30.360 --> 0:14:33.440
<v Speaker 1>you know, gasp moments when you're walking the floor. It

0:14:33.600 --> 0:14:36.960
<v Speaker 1>was extremely popular. Lots of people taking video and pictures

0:14:36.960 --> 0:14:40.920
<v Speaker 1>of that thing. The company was this upstart ev producer

0:14:41.160 --> 0:14:45.280
<v Speaker 1>that was taking shape in California and Nevada, and then

0:14:45.440 --> 0:14:49.360
<v Speaker 1>news about weird stuff relating to this company began to

0:14:49.360 --> 0:14:54.080
<v Speaker 1>pop up. The company founder had a different company back

0:14:54.160 --> 0:14:58.160
<v Speaker 1>in China, that's where he's from, and that company was

0:14:58.200 --> 0:15:01.640
<v Speaker 1>apparently in die or straits. It was starting to fail,

0:15:02.120 --> 0:15:06.160
<v Speaker 1>and the Chinese government was extremely eager to have this

0:15:06.280 --> 0:15:09.960
<v Speaker 1>founder come back to China and settle up with his creditors.

0:15:10.240 --> 0:15:14.120
<v Speaker 1>The founder was extremely eager to not do that thing,

0:15:14.720 --> 0:15:18.560
<v Speaker 1>because you know, answering for issues in China can sometimes

0:15:18.600 --> 0:15:23.200
<v Speaker 1>be a pretty serious thing. So he also allegedly spent

0:15:23.400 --> 0:15:25.840
<v Speaker 1>a lot of the company money as if it was

0:15:25.880 --> 0:15:28.320
<v Speaker 1>his own personal bank account. There were a lot of

0:15:29.760 --> 0:15:35.760
<v Speaker 1>at least perceived possible misuses of corporate funds. Things were

0:15:35.800 --> 0:15:38.040
<v Speaker 1>not really looking on the up and up, in other words,

0:15:38.840 --> 0:15:41.240
<v Speaker 1>so there were a lot of questions about whether Faraday

0:15:41.440 --> 0:15:44.880
<v Speaker 1>would ever be able to produce a consumer vehicle. Because

0:15:44.920 --> 0:15:48.240
<v Speaker 1>spoiler alert. So far it has not, and it all

0:15:48.280 --> 0:15:51.920
<v Speaker 1>got very dramatic. And now it's time to add another

0:15:51.960 --> 0:15:55.760
<v Speaker 1>bit of drama to this story because now Faraday Future

0:15:56.200 --> 0:16:00.520
<v Speaker 1>is a publicly traded company. The same organization SHAN that

0:16:00.600 --> 0:16:05.840
<v Speaker 1>was teetering on the brink of implosion is now publicly traded.

0:16:05.920 --> 0:16:08.560
<v Speaker 1>So you would be well justified in asking how the

0:16:08.600 --> 0:16:12.680
<v Speaker 1>heck could this happen? How could it go from almost

0:16:12.840 --> 0:16:17.160
<v Speaker 1>falling apart to becoming a publicly traded company. H And

0:16:17.240 --> 0:16:20.200
<v Speaker 1>by the way, that move of becoming publicly traded added

0:16:20.240 --> 0:16:24.960
<v Speaker 1>like a billion dollars to the company's coffers, so that

0:16:25.120 --> 0:16:30.200
<v Speaker 1>is incredibly significant. Well, it's because of a little thing

0:16:30.520 --> 0:16:34.440
<v Speaker 1>called a SPACK or sp A C. And by a

0:16:34.480 --> 0:16:38.280
<v Speaker 1>little thing, I mean a big thing. So a SPACK

0:16:38.960 --> 0:16:43.000
<v Speaker 1>is a special purpose acquisition company. And this is kind

0:16:43.040 --> 0:16:45.600
<v Speaker 1>of a work around for companies that want to go

0:16:45.720 --> 0:16:49.440
<v Speaker 1>public but would otherwise have trouble with an initial public

0:16:49.560 --> 0:16:53.160
<v Speaker 1>offering or i p O. And we've seen lots of

0:16:53.200 --> 0:16:57.440
<v Speaker 1>stories about companies that had to back off and rethink

0:16:57.480 --> 0:16:59.480
<v Speaker 1>their approach to an i p O, you know, like

0:16:59.640 --> 0:17:04.399
<v Speaker 1>Uber companies that at one point we're really bullish about

0:17:04.480 --> 0:17:06.520
<v Speaker 1>having an I P O. And then something happens and

0:17:06.560 --> 0:17:09.719
<v Speaker 1>it kind of throws a monkey wrench into the works. Well,

0:17:10.160 --> 0:17:14.800
<v Speaker 1>here's how a spack works. You get some investors and

0:17:14.840 --> 0:17:19.040
<v Speaker 1>they create a company that does nothing. It's it's like

0:17:19.040 --> 0:17:21.880
<v Speaker 1>like the old joke on Seinfeld. I mean, it literally

0:17:22.400 --> 0:17:27.600
<v Speaker 1>is a company that does nothing except exist to pool resources.

0:17:27.640 --> 0:17:31.360
<v Speaker 1>So the company that does nothing, you know, goes public

0:17:31.560 --> 0:17:37.080
<v Speaker 1>and then this newly publicly traded company uses the assets

0:17:37.160 --> 0:17:40.600
<v Speaker 1>that it has that otherwise are doing nothing to acquire

0:17:40.880 --> 0:17:43.560
<v Speaker 1>the target company, you know, the one that would not

0:17:43.600 --> 0:17:45.760
<v Speaker 1>be able to hold an I p O on its own.

0:17:46.000 --> 0:17:48.800
<v Speaker 1>So Faraday Future never would have gotten an i p

0:17:48.960 --> 0:17:51.359
<v Speaker 1>O off the ground, not not with the way the

0:17:51.400 --> 0:17:54.680
<v Speaker 1>company has been mismanaged and miss run for the last

0:17:54.720 --> 0:17:59.760
<v Speaker 1>several years. But by creating essentially a shell company that

0:18:00.320 --> 0:18:03.040
<v Speaker 1>then can be publicly traded and use that company to

0:18:03.280 --> 0:18:08.040
<v Speaker 1>purchase Faraday futures, that suddenly means that Faraday Future, by extension,

0:18:08.680 --> 0:18:12.439
<v Speaker 1>is publicly traded. Kind of seems like a like almost

0:18:12.480 --> 0:18:14.640
<v Speaker 1>like a bait and switch, but it's totally illegal. It's

0:18:14.680 --> 0:18:18.639
<v Speaker 1>something that can actually happen without any you know, legal

0:18:18.680 --> 0:18:24.840
<v Speaker 1>implications whatsoever. Now along the way through this process, as

0:18:25.400 --> 0:18:28.720
<v Speaker 1>this spack acquired Faraday Future and made it a publicly

0:18:28.760 --> 0:18:34.040
<v Speaker 1>traded company. The founder of Faraday Future effectively surrendered control.

0:18:34.200 --> 0:18:37.200
<v Speaker 1>So today things are very different from how they were

0:18:37.200 --> 0:18:40.080
<v Speaker 1>in years past. But does this mean that Faraday Future

0:18:40.119 --> 0:18:43.880
<v Speaker 1>is on track to actually produce electric vehicles after years

0:18:43.880 --> 0:18:48.680
<v Speaker 1>of languishing in a melodramatic mess of financial shenanigans. Well,

0:18:48.720 --> 0:18:51.239
<v Speaker 1>the plan is to get things up and running so

0:18:51.280 --> 0:18:56.000
<v Speaker 1>that the company can release an suv electric vehicle sometime

0:18:56.080 --> 0:18:59.960
<v Speaker 1>by the end of next year. We'll see if that happened.

0:19:00.119 --> 0:19:03.480
<v Speaker 1>I think some skepticism is warranted, but I would actually

0:19:03.520 --> 0:19:06.560
<v Speaker 1>love to see the company deliver upon that initial promise

0:19:06.640 --> 0:19:09.960
<v Speaker 1>I first encountered back in two thousand sixteen at c

0:19:10.119 --> 0:19:12.639
<v Speaker 1>E S. I don't want to see a company fail.

0:19:13.200 --> 0:19:17.399
<v Speaker 1>It's just, you know, my skepticism is up only because really,

0:19:17.440 --> 0:19:19.600
<v Speaker 1>if you look into the history of Faraday Future, and

0:19:19.640 --> 0:19:22.600
<v Speaker 1>I've got I've got an episode about it, a couple

0:19:22.680 --> 0:19:27.000
<v Speaker 1>of them, you start to see where there's enough history

0:19:27.320 --> 0:19:32.000
<v Speaker 1>of shenanigans going on there to make anyone feel a

0:19:32.119 --> 0:19:36.239
<v Speaker 1>little cautious. But that is it for this episode of

0:19:36.280 --> 0:19:38.960
<v Speaker 1>tech Stuff. That is the news for Thursday, July twenty

0:19:39.080 --> 0:19:42.359
<v Speaker 1>two one. I hope you are all well. If you

0:19:42.440 --> 0:19:44.880
<v Speaker 1>have any suggestions for topics I should cover in future

0:19:44.920 --> 0:19:47.520
<v Speaker 1>episodes of tech Stuff, please reach out to me. The

0:19:47.560 --> 0:19:50.320
<v Speaker 1>best way to do that is over on Twitter. The

0:19:50.359 --> 0:19:53.000
<v Speaker 1>handle we use for the show is tech Stuff hs

0:19:53.240 --> 0:20:00.080
<v Speaker 1>W and I'll talk to you again really soon. M

0:20:02.560 --> 0:20:05.600
<v Speaker 1>Text Stuff is an I Heart Radio production. For more

0:20:05.680 --> 0:20:09.040
<v Speaker 1>podcasts from I Heart Radio, visit the I Heart Radio app,

0:20:09.200 --> 0:20:12.359
<v Speaker 1>Apple Podcasts, or wherever you listen to your favorite shows,